Sackler family makes $100M bet on low hedge fund fees

CNBC – The promise of fast-growing alternative mutual funds is a hedge fund investor’s dream: high returns and loss protection without paying exorbitantly high fees, locking up capital for a year or more, and barely understanding what the manager is buying and selling.

Still, a stigma has been attached to the funds, which either replicate hedge fund strategies or allocate to a group of hedge fund managers.